Self-storage operator StorageMart is has launched its latest scholarship campaign, offering $1,000 scholarships to five students pursuing degrees at any level of higher education as part of the StorageMart ScholarSmarts program. Designed to be as inclusive as possible, ScholarSmarts is open to any student enrolled in the spring 2013 semester at any college, university, trade or technical school in the United States or Canada. The company also awarded five students with $1,000 scholarships during the fall 2012 semester.

Applications for a ScholarSmarts scholarship are in the form of essays, which answer one of the following questions: What link is there between a clutter-free workspace and increased productivity? How has self-storage improved your lifestyle?

Winning submissions will be chosen based on originality and creativity, but must meet three basic standards to be considered:  

• All submissions must have a title.
• Essays are to be a minimum of 500 words in length.
• Essays must be predominantly comprised of unique content, with proper citation of any research material used.

Each student may enter only one application. Submissions should be sent via e-mail along with the applicants legal name, mailing address, telephone number and the name of the school to which he will enroll for the spring 2013 semester.

The deadline for essay submissions is 11:59 p.m. on Jan. 31. Winners will be announced March 1 via the StorageMart Facebook page and YouTube channel. More information is available at Storage-mart.com/scholarship. StorageMart awarded five students with $1,000 scholarships during the fall 2012 semester.

Headquartered in Columbia, Mo., StorageMart is a self-storage company with more than 130 locations across the United States and Canada. 

Extra Space Storage Inc., a self-storage real estate investment trust, has agreed to purchase 28 self-storage properties in multiple states for $190.2 million. The acquisitions will be made in two separate deals and expand the companys portfolio by approximately 2.3 million square feet of net rentable space and about 19,400 units.

One deal includes 21 facilities in 11 states from an unnamed joint-venture partner. These properties already operate under the Extra Space Storage brand. The facilities comprise approximately 1.7 million square feet of net rentable space in about 13,600 units. As of Sept. 30, the occupancy rate for all 21 sites was approximately 89 percent, company officials said. Once the deal closes, Extra Space will own 100 percent of the facilities.

The second deal includes seven self-storage facilities in Florida, Maryland, Massachusetts and New Jersey, with an aggregate of approximately 575,000 square feet of net rentable space in about 5,800 units. As of Sept. 30, these properties had an occupancy rate of nearly 87 percent, company officials said.

The company expects to close each of the acquisitions by Dec. 31.

Headquartered in Salt Lake City, Extra Space owns or operates more than 900 self-storage properties throughout the United States and Puerto Rico. The companys properties comprise approximately 610,000 units and about 66.7 million square feet of rentable space.

Self-storage real estate investment trust Extra Space Storage Inc. will issue and sell 5,200,000 shares of its common stock in a public offering. Citigroup is acting as the sole book-running manager for the offering. Extra Space will grant the underwriter a 30-day option to purchase up to an additional 780,000 shares.

Extra Space intends to use the net proceeds of the offering to fund its acquisition of 28 properties that are under contract or letter of intent with an aggregate purchase price of $190.2 million. The funds will also be used to repay a portion of the outstanding indebtedness under the company's secured lines of credit and other general corporate and working-capital purposes.

The pending acquisitions include the purchase of a joint-venture partner's interest in one of Extra Space's existing joint ventures that owns 21 self-storage properties in 11 states, resulting in full ownership of the joint venture by the company. They also include the purchase of seven additional properties in Florida, Maryland, Massachusetts and New Jersey.

The pending acquisitions are subject to the completion of the company's due diligence, the satisfaction of other closing conditions andin the case of the acquisition of the joint-venture partner's interestthe negotiation and execution of a definitive purchase agreement. Extra Space intends to close the acquisitions by Dec. 31, assuming all conditions are satisfied.

An automatic shelf registration statement and preliminary prospectus supplement relating to these securities were previously filed with the Securities and Exchange Commission.

The offering will be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from Citigroup, C/O Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717.

Headquartered in Salt Lake City, Extra Space owns or operates more than 900 self-storage properties throughout the United States and Puerto Rico. The companys properties comprise approximately 610,000 units and about 66.5 million square feet of rentable space.

Treasure Island Storage, a self-storage operator with 10 facilities throughout New York City and New Jersey, has bought an 84,000-square-foot industrial building in Queens from the U.S. Postal Service. Located at 78-02 Liberty Ave. in Ozone Park, the site has been used as a mail-sorting facility for the past 30 years.

The building sold for $6.55 million. Israel Discount Bank of New York provided a $6.8 million loan on the property to finance its acquisition and renovation, according to Ken Cayre, president of Cayre & Sons Acquisitions, the company controlling Treasure Island Storage.

The building will to be converted to a state-of-the art, class-A self-storage facility, Cayer told the Commercial Observer. We expect this project to be approximately $11 million when completed, he said.

Treasure Island Storage's other properties are in Brooklyn and Queens, N.Y., as well as Asbury Park, Cherry Hill,  Howell, Lakewood, Old Bridge, Paterson and Woodbridge, N.J. The company has two more projects in the pipeline in the outer boroughs of New York City and is actively pursuing additional opportunities, according to the Observer article.

USPS is selling 71 buildings and 24 land parcels nationwide, according to a list created by CBRE, the real estate brokerage in charge of selling the properties. A USPS spokesperson confirmed the list and said the government organization has put these properties on the market to "streamline operations."

U.K. self-storage operator LoknStore Group PLC announced financial results for the fiscal year ending July 31, 2012. Operating profit rose 36 percent during the year to £2.14 million ($3.4 million), and revenue increased 18 percent to £12.77 million ($20.4 million).

The company had a preliminary annual dividend of 5 pence (about 8 cents) per share. The dividend payment was a 66 percent increase from the previous years dividend of 3 pence. The company was buoyed in part by refinancing a £40 million ($63.9 million) loan, increasing self-storage EBITDA by 3 percent to £4.97 million ($7.9 million), and securing municipal approvals for opening two new facilities next year.

This has been another year of very solid underlying trading for the group, during which we have secured an attractive new bank facility and fixed the interest rate on the majority of our current debt, securing our funding costs at a historically low level, said CEO Andrew Jacobs.

The companys first full year of offering document storage also showed strong gains, recording a profit of £474,062 ($757,195) after posting a £43,493 ($69,469) loss in 2011.

The strong report prompted heavy trading from current and new investors.

It is intended that the company's future dividend payments will reflect the growth in the underlying cash generated by the business, Jacobs said. We have a secure financial base, an excellent development pipeline and robust trading, which gives the board the confidence to propose this step change in the dividend.

Lok'nStore operates 22 self-storage facilities in Southeast England. The company builds, buys or leases large warehouses or industrial buildings and rents storage units to customers on a weekly basis. Around 60 percent of the company's 7,000 customers are residential and 40 percent are commercial. LoknStore has more than 920,000 square feet of net rentable space, which is evenly split between freehold and leasehold.

By Nick Nichols

Unless your self-storage operation is unusual, your facility is likely located in a cluster of other businesses, near residential areas, or both. I call these your trade-zone communities. Worked properly and systematically, a community-marketing program can boost your occupancy levels significantly for little or no extra cost. Try these simple efforts to bring new tenants to your facility.

Theres also a little-known community-marketing secret that can allow you to keep getting paid a monthly income from tenants who move out. Ill reveal how this works at the end of the article.

Join the Chamber of Commerce

The most common form of community marketing is membership in a local chamber of commerce. Chambers typically host periodic networking functions, after-hours mixers and other gatherings that provide the opportunity for members and guests to mingle and exchange business cards. Most of the time, however, these functions are unstructured and unfacilitated, making success a hit-and-miss proposition.

By this I mean most chamber-style events are somewhat of a free for all. Your success depends on who you happen to run into or sit beside. You may or may not be able to interact with people who you can refer business to you. So what can you do to make the most of the situation?

First, when you or your staff are at a chamber event, take the initiative and start approaching people. Remember, they are there for the same reason you areto networkso dont be shy! Start with the universal ice-breaker, What brought you to the event today? Their answer or even their name tag may reveal the type of business in which they work. If not, ask at the first opportunity. Once you know their business, you have a tremendous advantage because you can use a special 10-second elevator-pitch strategy that can be extremely effective.

Lets say the person is a dentist. You can say something like, Hows business? Then let the person answer while you make mental notes of any problems the person reveals that you might be able to solve directly or indirectly.

Ideally, at some point, the person will ask what you do. And heres the magic answer framed to a dentist, I help dentists keep their offices neat and tidy to create a better patient experience by providing safe, secure storage space for supplies, extra furniture and other items that should be relocated out of the way.

This is what I call a targeted response, and it works to create interest in what you do for three reasons. First, because you framed your response to the person's specific business, you create the perception that you specialize in that industry. Second, you state a feature-benefit combination that might just resonate with the person. Third, you differentiate yourself because theres a 99 percent chance youre the only person whos ever framed an elevator pitch that speaks directly to that persons business and its probable needs.

If you can master this strategy, people will know exactly what you do and be in a position to rent from you now or in the future. They can also refer others to you.

Offer Another Type of Value

Another form of community marketing is a value-based incentive program. It works extremely well, especially in competitive markets.

First, make a list of other needs your storage customers might have that your business cannot fill directly. These include non-commercial needs such as where to register for school, where to get a drivers license, where to worship, where to access community programs, etc. People may also have commercial needs such as those for a moving company, an apartment, a good vet for their pets, an inexpensive or pet-friendly motel, truck rental (if you dont provide this), and so forth. You can easily provide lists or instructions on where to find all of these places and services.

Next, approach providers of other common products and services and ask them for coupons and other incentives that you can include in a package of value-based perks. In addition to the suggestions above, you can approach local restaurants, car-repair shops, babysitting services, medical and dental offices, furniture and appliance stores, dry cleaners, shoe-repair shops, locksmiths, attorneys, accountants, gyms and personal trainers, hair and nail salons You get the idea.

Include any local business that wants more customers, clients or patients. It can give you coupons, free-trial certificates, free samples or any item that makes sense to include in your customer-incentive package. When you add up the total value of the package, you may have a premium thats worth several hundred dollars but costs you nothing to provide other than a little legwork. Imagine how your closing rate will skyrocket when you offer a value-based incentive package worth $100, $200, $300 or more in addition to whatever else youre doing!

Oh, and those other businesses youll be promoting? To be a part of your program, they must agree to promote your facility to their customers, clients and patients, ideally via some kind of special offer you make.

Create Affiliate and Distributor Relationships

How much revenue do you collect from tenants who move out and never come back? None? Well, you might want to pay close attention as I reveal a little-known community-marketing secret that can allow your company to continue collecting a monthly income from tenants while they rent from you and long after they move out.

Besides the services mentioned earlier, how many of your tenants use cell phones? How many have or need cable or satellite-TV service? How many need a security system? How about Internet access? Are they concerned about identity theft? If youre in a deregulated state, where are they buying their gas and electricity?

These are just a few examples of services your customers need or are already using that you could provide via affiliate or distributor relationships. If you align yourself with the right providers, youll be in a position to make current and future income on the purchases your customers make now and in the future.

You can find affiliate and distributor opportunities on the Internet and companies that offer more than one of the services above. In certain cases, you can offer customers the opportunity to sell these same services and even products to other people and get paid a commission. You may be able to earn an override on what your customers sell. When a system is properly set up and promoted, its entirely possible that a self-storage facility could generate as much revenue from having a healthy back end as it does renting units.

I call this aerobic marketingworking your back end to add value to your tenants lives and make additional revenue now and when your tenants move on. You also can provide a way for some of your customers to make some extra money now and for months and years to come. This is community marketing that benefits not only you but your customer base.

Nick Nichols helps self-storage operators attract more long-term tenants, boost tenant satisfaction and increase tenant retention. He also offers free webinars that show self-storage operators how to generate additional income from tenants now and long after they move out. Visit www.selfstorageadvantage.com to register for his next free webinar.

Self-storage operators in New Jersey and New York have stepped forward to help home and business owners affected last week by Hurricane Sandy.

Manhattan Mini Storage, which has 17 facilities in New York City, responded to the devastation in downtown Manhattan by setting up an emergency hotline to help businesses or residents whove been displaced by the storm. In addition, the company is offering free packing boxes and self-storage space to anyone who has been directly impacted.

As a homegrown, family-operated company, we make helping our neighbors in need a priority, said Gary DeBode, CEO of Edison Properties, Manhattan Mini Storages parent company. Its a company mandate and, frankly, what every good New York company we know would do.

Storage Post Self Storage is also involved in the recovery efforts. The company has 16 facilities in the areas impacted by Hurricane Sandy, and has reopened most of its facilities despite minor wind and water damage. Storage Post updates its website regularly to provide real-time information on the status of its stores and communicates frequently with its customers.

"Our thoughts are with our customers, friends, employees and families in New York and New Jersey. This was a devastating storm, and we are encouraging everyone to remain safe and follow the instructions provided by city and state officials," said Bill Miller, vice president of sales and marketing for Storage Post. "Our deepest sympathy is extended to those who lost homes and loved ones."

Headquartered in Atlanta, Storage Post also operates several facilities in the South.

In addition to Manhattan Mini Storage, Edison Properties affiliated companies include Edison ParkFast, The Ludlow, Workspace offices and the Hippodrome.

By Brad Remillard

When it comes to hiring a self-storage manager, a candidate's skills and experiences are irrelevant. It's how well he applies them on the job that counts.

To be clear, "irrelevant" does not mean "unimportant." Having the right skills and experiences is important, but they're simply the tools one brings to the task. Its a person's ability to effectively use these tools that matters. Just because you have a hammer and saw in your garage doesnt make you a fine-finish carpenter.

Interviewers tend to ask applicants a lot of questions about their past. For example, What have you done in this area? or Have you ever done [fill in the blank]? Those trained in behavioral interviewing will take those same questions and modify them by asking for an example: Give me an example where youve done X or Tell me about a time when you had X as an issue."

All of this may be good information, but the fact is you really dont care about any of it. When a new hire shows up on Monday morning, you no longer think about about all the things hes done in the past. You only care about one thing: Whether he can do the job youve hired him to do. Applicants may have the best skills and all the right experiences, but if they cant successfully apply them to the task at hand, it's all for nothing.

A New Methodology

Although behavioral interviewing was once a quantum leap forward in the hiring process, the method has run its course. Great interviewing is about more than getting at the past. The tag line for behavioral interviewing, past performance is an indicator of future performance, isnt always true.

Have you ever hired a person who interviewed well, who had all the right answers and items in his resume, but once hired fell flat on his face? This has happened to just about every employer at some point. Why? Its usually because the employee's skills and experiences are not primary indicators of his ability to do the job. They're secondary indicators at best, and more often than not, they're misleading.

Instead, focus the interview on answering one fundamental question: Can the person do the job? The key to successful hiring is a methodology that puts the candidate in the position before you hire him. Its not about determining if he has the right tools but if he can use them well. If he cant, he may not be the right fit.

How do you put candidates in the job before you hire them? Here are three steps to retooling your interview process:

Change your questions. Stop relying on questions that start with have you," "what," "tell me about a time when," etc. These should be used for probing after the candidate provides his initial answers. The famous who, what, when, where and why questions are for probing deep, not for opening questions.

Rely on how.  One of the biggest challenges interviewers have is shifting to the use of how questions, for example: How would you decrease costs by 10 percent? How would you increase gross margins by X percent? How would you go about implementing a complete systems upgrade of our management-software program? How would you increase market share in your territory? After you ask how, you can begin probing with the five Ws.

Ask for examples. Shift the interview from the candidate's skills and experiences and ask him explain how he would specifically apply these to the job. If the potential hire cant envision how to apply his skills and experiences in the position, you have to question whether hes the right fit.

Its easy for candidates to talk about their skills and experiences. Some might even embellish in this area. Its significantly different for them to explain how they would apply those tools in your company, with your culture, resources, budget constraints and all the aspects that make your self-storage business unique from the one theyre leaving behind.

To make a successful hire, put the candidate in the job in advance with the use of "how" questions. See how he thinks on his feet. If he can't, you may be better served by moving on to the next potential hire on the list.

Brad Remillard is a speaker, author and trainer with more than 30 years of experience in hiring and recruiting. Through his corporate workshops and speaking engagements, he demonstrates how organizations can effectively attract, interview, hire and retain top talent. He is the co-founder of Impact Hiring Solutions and co-author of Youre NOT the Person I Hired: A CEOs Guide to Hiring Top Talent. For more information, visit www.bradremillard.com.

Code: hiremanagersxk261

Green Self Storage in Worcester, England, has offered to assist customers displaced by the closing of nearby Guardian Self Storage with moving transportation and available units. Guardian Self Storage entered voluntary liquidation about a month ago, but many customers have been unable to remove their belongings from the facility.

We managed to get 10 people to get their stuff out of the container and give them storage here, said Simon Atkins of Green Self Storage. We want to offer people help or transport. We know its a very stressful time moving. Whatever we can do to help we will.

Guardian Self Storage had been in business since 2000. A message on its website instructed customers to contact HallmarkHulme Solicitors, a law firm specializing in commercial and residential property, to gain access to their possessions.

Although some tenants have been able to recover their property, others like Jeanette Weir have been inside the facility but cannot locate their belongings. Weir is trying to mobilize other tenants in the same situation, believing they will be more equipped to resolve their disputes as a group.

I think it is important to try to get everyone working together, Weir said. I feel for those who have lost everything with no way of replacing their things.

Police received multiple complaints from customers who could not retrieve their belongings. Mark Evans, a customer who did recover his property, said he had stored £15,000 ($24,000) worth of goods at the facility.

"I had everything in there, all my furniture, TV and other household things as well as personal items that are of sentimental value like photos of my son and late father, he said. It was heartbreaking.

Weir believes the facility and the liquidation process failed to protect tenants' property. There need to be better controls in place and perhaps stronger legislation to ensure that this never happens again, she said. The liquidators should have ensured that the innocent third parties had the opportunity of rescuing their belongings right at the start of all this.

If youve got a storage site youve effectively got peoples lives in there, Atkins said. You are being a custodian to their history. The last thing I want to see is people questioning the safety of putting stuff into storage.

Metro Self Storage in Lower Providence Township, Pa., is hoping to expand its facility by adding a fenced outdoor storage area. Geoffrey Glazer, acquisitions vice president for Kimco Realty in Timonium, Md., told the Board of Supervisors this week the self-storage operator would like to expand into an available lot in the Ridge Pike Plaza after the proposal for a 20,000-square-foot fitness center fell through.

Metro Self Storage will provide elevation drawings of the proposed project, including new fencing, when it submits its formal application, Glazer said.

We did a $2 million investment for the self-storage proposal several years ago, he said. We rehabbed the building and cleaned up the exterior. The self-storage [facility] is about 70 percent occupied.

The available, 37,373-square-foot lot has been empty since a supermarket vacated the space more than six months ago.